The Cooper Companies Inc. (COO)
Debt-to-assets ratio
| Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,520,400 | 2,347,100 | 1,396,100 | 1,383,900 | 1,262,600 |
| Total assets | US$ in thousands | 11,658,900 | 11,492,300 | 9,606,200 | 6,737,500 | 6,274,500 |
| Debt-to-assets ratio | 0.22 | 0.20 | 0.15 | 0.21 | 0.20 |
October 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,520,400K ÷ $11,658,900K
= 0.22
The debt-to-assets ratio of Cooper Companies, Inc. has demonstrated fluctuations over the past five years. In 2023, the ratio stood at 0.22, indicating that 22% of the company's assets were financed by debt. This represented a decrease from the previous year when the ratio was 0.24. The declining trend in the debt-to-assets ratio suggests improved financial leverage and a lower reliance on debt to finance assets.
Comparing to 2021, where the ratio was 0.15, it is evident that the company became more leveraged in 2022 and 2023. However, in 2020 and 2019, the ratio was higher at 0.27 and 0.29 respectively, indicating higher reliance on debt to finance assets during those periods.
Overall, while the ratio has experienced fluctuations, the recent decrease in the debt-to-assets ratio reflects a favorable trend towards a more conservative capital structure and decreased financial risk. This trend may indicate improved financial stability and a more balanced mix of debt and equity financing.
Peer comparison
Oct 31, 2023